Despite IPO Push, USDC Issuer Circle Is Still in Acquisition Talks with Ripple Labs and Coinbase

The crypto Merger & Acquisition (M&A) activity in the digital currency ecosystem is taking new shape, with USDC issuer Circle still in acquisition talks.

A report by Fortune Magazine has revealed that Circle Internet is still open for an acquisition despite filing for an IPO earlier this year.

According to a new report by Fortune, Circle is still in talks to be acquired by Ripple Labs and Coinbase Global Inc.

Earlier this April, Circle filed for an IPO, highlighting a major milestone for the company, which has been exploring avenues to go public since at least 2022. Despite its personal growth push, the company remains a target for other bigger firms in the crypto ecosystem.

The publication's report on Wednesday now adds that the company’s IPO valuation is said to be around $5 billion. According to the report, there are informal conversations going on between Circle and Ripple Labs.

The association to the blockchain payments firm is not new, with rumors of a merger first emerging in March 2023. Now, the publication’s sources have also brought Coinbase into the ongoing information negotiations for a possible acquisition of Circle.

It remains unclear if a final deal will be reached. However, the sources noted that Circle will sell without any tough considerations if a good bid comes from Coinbase. The informal conversations are still ongoing and may change in due course.